Savannah morning news. [volume] (Savannah) 1868-1887, 1887-02-02
MARKETS BY TELEGRAPH.
FINANCIAL.

LONDON, Feb. l, noon.-Consols l005s for
money. 100 ll-I6 for account.
NEW YORK. Feb, l, nosn.-StOcks quiet but
irregular Money easy at per cent. Elk
ga $50. State bonds dull but steady. Gov
eminent bonds dull but steady.
300 p. m.-Exchange firm to strong at
81 S50l4 S51z. Money easy al 3(Ln4I% per cent,
closing at '8@4 per cent. sub-Trealu ry bal
ances-G old, Sl3l. 600: currency. SlS 49,
eco. Government bonds duh but steady; four
per cents. 1881: three per cents. 100. State
bonds dell but steady.
The stock market to-day exhibited much
more animation than for several days past,
accompanied by sharp depression, which,
however. was ID great measure neutralized
late in the day. Before the opening of busl-
ness advices were received of panic upon
the Paris Bourse and OF heavy sc ling by con-
tinenJal investors in the London market. At
the opening London houses sold heavily all of
their specalties, and room traders. who we're
bearish almost to a man, aIded In producing
the depression. Reports that the labor
troubles were spreading, and that to-day
would seriously affect trunk lines, were also
used against the market, coal stocks and
trunk lines showing effects OF movements
most heavily. Before the end of the after
noon, however. selling pressure was relaxed
and a more pacific tone of European advices
Immediately created revu sion in feeling.
Later reports were circulated that a confer
ence for a settlement of the labor ticulties
had been arranged, and room traders then
ran to cover and a material recovery was
effected before the close. There was excel
lent buying by insiders. especially in the
forenoon. which undoubtedly prevented
much more serious break than occurred.
Coal stocks were the leaders of the market to-
day, followed closely, however, by trunk lines
and other specIalties, prominent among which
were Louisville and Nashville. Richmond and
West Point, New England and Western I'm
ion. The opening was decidedly weak this
morning, declines from yesterdays closing
figures ranging up to per cent. The market
was active. feverish and somewhat irregul ar
in the early dealings, and while few slight adj
vances were made the pressure of stocks for
sale soon forced the list down. and before the
end of the first hour declines ranging up close
to per cent. had been established. A slight
recovery was soon followed again by a re
newal of the selling movement and many
stocks which had resisted well the pressure
of the first hour gave way in turn. Before
noon. however, the market became quiet and
rather firm, though feyerishness was still
noticeable and materia al reCoveries were made
in many stocks, especially jersey Central,
LacGawanna and Louisville anu Nashville.
The i'm provement continued until the end Of
business, the close being steady TO firm. The
days business was $4,000 shares. A great
majority Of the active list are 10 wer this even
ing, though a fair proportion show fraction al
advances. Louisville and Nashville, however,
lost "a, Reading Ia, New York Central IA
and Tennessee Coal and Kansas and Texas
per cent. each. The stock OF the Cameron
Coal ana Iron Company was traded in to-day
for the first time. The following are the clos